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DannyNoburu

Updated Technical Analysis on SPY 7.13.20

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
DannyNoburu  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Chart Patterns Trend Analysis rising Wedge islandreversal gapup
7
0
chartpattern trendanalysis rising wedgepattern islandreversal gapup
Sentiment: Short term Bearish

Reasons:
1.Strong Weekly Resistance (Now Support) at 317.59
2. Bearish Island Gap on Daily Chart
3. Bullish Channel Breakdown
4.Selling Volume Increase
5. Rising Wedge Pattern Formed After Market Open Gap up
5. Decrease in Overall Volume During this Pattern formation Confirms its Strength
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